{"id":37800,"date":"2023-06-26T20:00:00","date_gmt":"2023-06-26T11:00:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=37800"},"modified":"2023-06-26T12:04:23","modified_gmt":"2023-06-26T03:04:23","slug":"%e7%b1%b3%e5%9b%bd%e6%a0%aa%e3%81%af%e3%81%84%e3%81%be%e3%81%a0%e3%81%ab%e3%83%80%e3%82%a6%e3%83%b3%e3%83%88%e3%83%ac%e3%83%b3%e3%83%89%e3%81%ae%e4%b8%ad%e3%81%ab%e3%81%82%e3%82%8b","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/37800","title":{"rendered":"\u7c73\u56fd\u682a\u306f\u3044\u307e\u3060\u306b\u30c0\u30a6\u30f3\u30c8\u30ec\u30f3\u30c9\u306e\u4e2d\u306b\u3042\u308b"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">\u3053\u306e\u8fba\u308a\u3067\u4e00\u5ea6\u7c73\u56fd\u682a\u306e\u76f8\u5834\u898b\u901a\u3057\u306b\u3064\u3044\u3066\u7e8f\u3081\u3066\u304a\u304d\u305f\u3044\u3002\u7d50\u5c40\u91cd\u8981\u306a\u306e\u306f\u3001\u8ca1\u653f\u653f\u7b56\u3068\u91d1\u878d\u653f\u7b56\u304c\u6765\u5e74\u306b\u304b\u3051\u3066\u3069\u3046\u306a\u3063\u3066\u3086\u304f\u304b\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u53cd\u767a\u3059\u308b\u7c73\u56fd\u682a<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u7c73\u56fd\u682a\u306f\u53cd\u767a\u3057\u3066\u3044\u308b\u3002\u30a4\u30f3\u30d5\u30ec\u6291\u5236\u306e\u305f\u3081\u306e\u91d1\u878d\u5f15\u304d\u7de0\u3081\u3092\u53d7\u3051\u3066\u3001\u682a\u4fa1\u306f2022\u5e74\u304b\u3089\u4e0b\u843d\u3057\u3066\u3044\u308b\u304c\u3001\u4eca\u306e\u3068\u3053\u308d\u305d\u306e\u4e0b\u3052\u5e45\u306e\u534a\u5206\u4ee5\u4e0a\u3092\u53d6\u308a\u623b\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2023-6-26-s-and-p-500-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"618\" height=\"389\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2023-6-26-s-and-p-500-chart.png\" alt=\"\" class=\"wp-image-37803\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2023-6-26-s-and-p-500-chart.png 618w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2023-6-26-s-and-p-500-chart-300x189.png 300w\" sizes=\"auto, (max-width: 618px) 100vw, 618px\" \/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u57fa\u672c\u7684\u306b\u682a\u5f0f\u6295\u8cc7\u5bb6\u306f\u904e\u53bb1\u30f6\u6708\u307b\u3069\u306e\u30c8\u30ec\u30f3\u30c9\u304c\u6c38\u9060\u306b\u7d9a\u304f\u3068\u8003\u3048\u308b\u751f\u304d\u7269\u306a\u306e\u3067\u3001\u3053\u308c\u306f\u65b0\u305f\u306a\u4e0a\u3052\u76f8\u5834\u306e\u59cb\u307e\u308a\u3060\u3068\u306e\u58f0\u3082\u51fa\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3060\u304c\u3082\u3046\u5c11\u3057\u8ce2\u660e\u306a\u6295\u8cc7\u5bb6\u306f\u3001\u9577\u671f\u30c8\u30ec\u30f3\u30c9\u304c\u672c\u5f53\u306b\u5909\u308f\u3063\u305f\u306e\u304b\u3069\u3046\u304b\u3092\u8003\u3048\u308b\u5fc5\u8981\u304c\u3042\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>2022\u5e74\u682a\u5b89\u306e\u539f\u56e0<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u3053\u306e\u8aad\u8005\u306b\u306f\u7e70\u308a\u8fd4\u3057\u306b\u306a\u308b\u304c\u3001\u682a\u4fa1\u306f\u4ee5\u4e0b\u306e\u5f0f\u3067\u8a08\u7b97\u3055\u308c\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u682a\u4fa1 = 1\u682a\u5f53\u305f\u308a\u7d14\u5229\u76ca x \u682a\u4fa1\u53ce\u76ca\u7387<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u7d14\u5229\u76ca\u306f\u7d14\u5229\u76ca\u3060\u304c\u3001\u682a\u4fa1\u53ce\u76ca\u7387\u306f\u7d14\u5229\u76ca\u306b\u5bfe\u3057\u3066\u4f55\u500d\u307e\u3067\u682a\u4fa1\u304c\u8a55\u4fa1\u3055\u308c\u3066\u3044\u308b\u304b\u3092\u8868\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u5f0f\u3092\u898b\u306a\u304c\u30892022\u5e74\u304b\u3089\u306e\u682a\u5b89\u304c\u4f55\u6545\u8d77\u3053\u3063\u305f\u304b\u3092\u8003\u3048\u3066\u307f\u305f\u3044\u3002\u539f\u56e0\u306fFed\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\uff09\u306e\u91d1\u878d\u5f15\u304d\u7de0\u3081\u3067\u7c73\u56fd\u50b5\u306e\u91d1\u5229\u304c\u4e0a\u304c\u3063\u305f\u3053\u3068\u3067\u3042\u308b\u3002\u30a2\u30e1\u30ea\u30ab\u306e\u9577\u671f\u91d1\u5229\u306f\u6b21\u306e\u3088\u3046\u306b\u63a8\u79fb\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2023-6-26-us-10-year-treasury-bond-yield-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"618\" height=\"389\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2023-6-26-us-10-year-treasury-bond-yield-chart.png\" alt=\"\" class=\"wp-image-37809\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2023-6-26-us-10-year-treasury-bond-yield-chart.png 618w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2023-6-26-us-10-year-treasury-bond-yield-chart-300x189.png 300w\" sizes=\"auto, (max-width: 618px) 100vw, 618px\" \/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u7c73\u56fd\u50b5\u306e\u91d1\u5229\u306f1%\u5f37\u304b\u30894%\u8fd1\u304f\u307e\u3067\u4e0a\u304c\u3063\u305f\u3002\u308f\u3056\u308f\u3056\u682a\u5f0f\u3092\u8cb7\u308f\u305a\u3068\u3082\u56fd\u50b5\u3092\u6301\u3063\u3066\u3044\u308c\u30704%\u306e\u91d1\u5229\u304c\u5f97\u3089\u308c\u308b\u308f\u3051\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1\u5229\u304c\u4e0a\u304c\u308b\u3068\u56fd\u50b5\u306e\u9b45\u529b\u304c\u4e0a\u304c\u308b\u3002\u69d8\u3005\u306a\u8cc7\u7523\u30af\u30e9\u30b9\u306f\u9650\u3089\u308c\u305f\u8cc7\u91d1\u3092\u4e92\u3044\u306b\u53d6\u308a\u5408\u3046\u306e\u3067\u3001\u9006\u306b\u8a00\u3048\u3070\u682a\u5f0f\u306e\u9b45\u529b\u304c\u4e0b\u304c\u308b\u308f\u3051\u3067\u3042\u308b\u3002\u305d\u308c\u3067\u4eee\u306b\u7d14\u5229\u76ca\u304c\u540c\u3058\u3067\u3082\u682a\u4fa1\u53ce\u76ca\u7387\u304c\u4e0b\u304c\u3063\u3066\u682a\u4fa1\u304c\u4e0b\u304c\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u682a\u4fa1 = 1\u682a\u5f53\u305f\u308a\u7d14\u5229\u76ca x \u682a\u4fa1\u53ce\u76ca\u7387<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u3060\u304c\u5b9f\u969b\u306b\u306f\u7d14\u5229\u76ca\u3082\u4e0b\u304c\u3063\u3066\u3044\u308b\u3002\u4ee5\u4e0b\u306fS&amp;P 500\u306e1\u682a\u5f53\u305f\u308a\u7d14\u5229\u76ca\u306e\u63a8\u79fb\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>2022\u5e74\u7b2c1\u56db\u534a\u671f:<\/strong> 197.91\u30c9\u30eb<\/li>\n\n\n\n<li><strong>2022\u5e74\u7b2c2\u56db\u534a\u671f:<\/strong> 192.26\u30c9\u30eb<\/li>\n\n\n\n<li><strong>2022\u5e74\u7b2c3\u56db\u534a\u671f:<\/strong> 187.08\u30c9\u30eb<\/li>\n\n\n\n<li><strong>2022\u5e74\u7b2c4\u56db\u534a\u671f:<\/strong> 172.75\u30c9\u30eb<\/li>\n\n\n\n<li><strong>2023\u5e74\u7b2c1\u56db\u534a\u671f:<\/strong> 175.17\u30c9\u30eb\uff08\u4e88\u60f3\u5024\uff09<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">2023\u5e74\u306e\u7b2c1\u56db\u534a\u671f\u306b\u53cd\u767a\u3057\u3066\u3044\u308b\u306e\u306f\u6c17\u306b\u306a\u308b\u304c\u3001\u6050\u3089\u304f\u30c9\u30eb\u9ad8\u304c\u662f\u6b63\u3055\u308c\u305f\u305f\u3081\u3060\u308d\u3046\u3002\u30e6\u30fc\u30ed\u30c9\u30eb\u306e\u30c1\u30e3\u30fc\u30c8\u3092\u63b2\u8f09\u3057\u3088\u3046\u3002\u4e0a\u65b9\u5411\u304c\u30e6\u30fc\u30ed\u9ad8\u30c9\u30eb\u5b89\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2023-6-26-eurusd-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"618\" height=\"389\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2023-6-26-eurusd-chart.png\" alt=\"\" class=\"wp-image-37812\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2023-6-26-eurusd-chart.png 618w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2023-6-26-eurusd-chart-300x189.png 300w\" sizes=\"auto, (max-width: 618px) 100vw, 618px\" \/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u3060\u304c\u4eba\u6c11\u5143\u3084\u65e5\u672c\u5186\u306b\u5bfe\u3057\u3066\u306f\u3001\u7b2c1\u56db\u534a\u671f\u306e\u5f8c\u306b\u30c9\u30eb\u9ad8\u304c\u623b\u3063\u3066\u304d\u3066\u3044\u308b\u3002\u30c9\u30eb\u5b89\u52b9\u679c\u306f\u4e00\u6642\u7684\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3044\u305a\u308c\u306b\u305b\u3088\u3001\u7d14\u5229\u76ca\u3068\u682a\u4fa1\u53ce\u76ca\u7387\u306e\u4e21\u65b9\u306f\u30012022\u5e74\u521d\u982d\u306e\u6c34\u6e96\u304b\u3089\u682a\u4fa1\u306b\u4e0d\u5229\u306a\u72b6\u6cc1\u3068\u306a\u3063\u3066\u3044\u308b\u3002\u305d\u308c\u3092\u8003\u3048\u308c\u3070\u3001\u73fe\u5728\u306e\u682a\u4fa1\u6c34\u6e96\u306f\u304b\u306a\u308a\u5272\u9ad8\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306e\u898b\u901a\u3057<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3060\u304c\u73fe\u5728\u306e\u6c34\u6e96\u304c\u5272\u9ad8\u3067\u3082\u5c06\u6765\u306e\u7d14\u5229\u76ca\u3068\u682a\u4fa1\u53ce\u76ca\u7387\u304c\u6539\u5584\u3055\u308c\u308b\u306a\u3089\u3070\u6b63\u5f53\u5316\u3055\u308c\u308b\u3002\u3060\u304b\u3089\u7d50\u5c40\u3001\u3053\u308c\u304b\u3089\u3069\u3046\u306a\u308b\u304b\u304c\u554f\u984c\u306a\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u304c\u6e1b\u901f\u3059\u308b\u3053\u3068\u306f\u907f\u3051\u3089\u308c\u306a\u3044\u3002\u30a2\u30e1\u30ea\u30ab\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u306f4.1%\u3067\u3042\u308a\u3001\u3053\u308c\u307e\u3067\u306f\u539f\u6cb9\u4fa1\u683c\u306e\u4e0b\u843d\u306b\u52a9\u3051\u3089\u308c\u3066\u6025\u964d\u4e0b\u3057\u3066\u304d\u305f\u304c\u3001\u3053\u3053\u304b\u3089\u306f\u30b5\u30fc\u30d3\u30b9\u306e\u30a4\u30f3\u30d5\u30ec\u306a\u3069\u91d1\u878d\u5f15\u304d\u7de0\u3081\u304c\u52b9\u304d\u306b\u304f\u3044\u5b9f\u4f53\u7d4c\u6e08\u306e\u30a4\u30f3\u30d5\u30ec\u304c\u4e0b\u304c\u3089\u306a\u3051\u308c\u3070\u5168\u4f53\u306e\u30a4\u30f3\u30d5\u30ec\u306f\u4e0b\u304c\u3089\u306a\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/37460\" data-type=\"post\" data-id=\"37460\">5\u6708\u7c73\u56fd\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u30a4\u30f3\u30d5\u30ec\u60aa\u5316\u306e\u5146\u3057<\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u7b46\u8005\u306e\u4e88\u60f3\u3067\u306f\u3001\u305d\u308c\u3067\u3082\u30a4\u30f3\u30d5\u30ec\u306f\u4e0b\u304c\u3063\u3066\u304f\u308b\u3002\u5e02\u4e2d\u306e\u73fe\u91d1\u3068\u9810\u91d1\u306e\u7dcf\u91cf\u3067\u3042\u308b\u30de\u30cd\u30fc\u30b5\u30d7\u30e9\u30a4\u304c\u5b9f\u8cea\u5024\u3067\u6025\u6e1b\u5c11\u3057\u3066\u3044\u308b\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/05\/2023-apr-us-m2-money-stock-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"448\" height=\"466\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/05\/2023-apr-us-m2-money-stock-chart.png\" alt=\"\" class=\"wp-image-37129\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/05\/2023-apr-us-m2-money-stock-chart.png 448w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/05\/2023-apr-us-m2-money-stock-chart-288x300.png 288w\" sizes=\"auto, (max-width: 448px) 100vw, 448px\" \/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u3060\u304c\u6642\u9593\u304c\u304b\u304b\u308b\u3002\u3053\u306e\u30b0\u30e9\u30d5\u3092\u898b\u308c\u3070\u5206\u304b\u308b\u3088\u3046\u306b\u3001\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306b\u306f\u307e\u3060\u30b3\u30ed\u30ca\u5f8c\u306e\u73fe\u91d1\u7d66\u4ed8\u3067\u7a4d\u307f\u4e0a\u3052\u3089\u308c\u305f\u9810\u91d1\u304c\u6b8b\u3063\u3066\u3044\u308b\u3002\u3053\u308c\u304c\u30b3\u30ed\u30ca\u524d\u306e\u6c34\u6e96\u307e\u3067\u4e0b\u304c\u308b\u306b\u306f1\u5e74\u307b\u3069\u304b\u304b\u308b\u8a08\u7b97\u306b\u306a\u308b\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u308c\u304c\u3001\u91d1\u878d\u5f15\u304d\u7de0\u3081\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u666f\u6c17\u5f8c\u9000\u304c\u307e\u3060\u6765\u3066\u3044\u306a\u3044\u7406\u7531\u3067\u3042\u308b\u3002\u4e00\u65b9\u3067\u3001GDP\u306e\u8981\u7d20\u306e\u3046\u3061\u4f01\u696d\u5229\u76ca\u306b\u5f71\u97ff\u3092\u4e0e\u3048\u308b\u306e\u306f\u6295\u8cc7\u3068\u8f38\u51fa\u5165\u3060\u304c\u3001\u4f8b\u3048\u3070\u6295\u8cc7\u306f\u9ad8\u91d1\u5229\u3067\u4f01\u696d\u304c\u304a\u91d1\u3092\u501f\u308a\u3089\u308c\u306a\u304f\u306a\u3063\u305f\u3053\u3068\u304c\u539f\u56e0\u3067\u6025\u6e1b\u901f\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/04\/2023-1q-us-real-real-gross-private-domestic-investment-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"448\" height=\"466\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/04\/2023-1q-us-real-real-gross-private-domestic-investment-chart.png\" alt=\"\" class=\"wp-image-36261\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/04\/2023-1q-us-real-real-gross-private-domestic-investment-chart.png 448w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/04\/2023-1q-us-real-real-gross-private-domestic-investment-chart-288x300.png 288w\" sizes=\"auto, (max-width: 448px) 100vw, 448px\" \/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u308c\u304c\u73fe\u5728\u306e\u7d14\u5229\u76ca\u6e1b\u5c11\u306e\u4e3b\u306a\u7406\u7531\u3067\u3042\u308b\u3002\u305d\u3057\u3066\u3053\u308c\u306f\u9ad8\u91d1\u5229\u304c\u7d9a\u304f\u9650\u308a\u7d9a\u304d\u3001\u7d14\u5229\u76ca\u306b\u30cd\u30ac\u30c6\u30a3\u30d6\u306a\u5f71\u97ff\u3092\u4e0e\u3048\u7d9a\u3051\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3044\u305a\u308c\u306b\u305b\u3088\u7d4c\u6e08\u5168\u4f53\u306e\u8cc7\u91d1\u91cf\u306e\u6e1b\u5c11\u306f1\u5e74\u7d9a\u304f\u3002\u3053\u3053\u304b\u30891\u5e74\u304b\u3051\u3066\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306f1970\u5e74\u4ee3\u306e\u30a4\u30f3\u30d5\u30ec\u9000\u6cbb\u306e\u5730\u7344\u3092\u5473\u308f\u3046\u3053\u3068\u306b\u306a\u308b\u3002\u4eca\u306f\u5f37\u3044\u500b\u4eba\u6d88\u8cbb\u3082\u6b21\u7b2c\u306b\u843d\u3061\u8fbc\u3093\u3067\u6765\u308b\u3002\u5c11\u306a\u304f\u3068\u3082\u3001\u305d\u3046\u3067\u306a\u3051\u308c\u3070\u30a4\u30f3\u30d5\u30ec\u306f\u6291\u5236\u3055\u308c\u306a\u3044\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/27377\" data-type=\"post\" data-id=\"27377\">\u30dd\u30fc\u30eb\u30fb\u30dc\u30eb\u30ab\u30fc\u6c0f\u30011980\u5e74\u306e\u30a4\u30f3\u30d5\u30ec\u6253\u5012\u304c\u3069\u308c\u3060\u3051\u53b3\u3057\u304b\u3063\u305f\u304b\u3092\u8a9e\u308b<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/31421\" data-type=\"post\" data-id=\"31421\">\u30cf\u30a4\u30a8\u30af: \u30a4\u30f3\u30d5\u30ec\u6e1b\u901f\u5f8c\u306e\u5931\u696d\u5897\u52a0\u306f\u907f\u3051\u3089\u308c\u306a\u3044<\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u4e0d\u6cc1\u306b\u304a\u3051\u308b\u682a\u9ad8<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3060\u304c\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u304c\u666f\u6c17\u5f8c\u9000\u306b\u9665\u308b\u304b\u3089\u3068\u8a00\u3063\u3066\u3001\u5fc5\u305a\u3057\u3082\u682a\u4fa1\u304c\u4e0b\u304c\u308b\u308f\u3051\u3067\u306f\u306a\u3044\u3002\u5b9f\u4f53\u7d4c\u6e08\u304c\u843d\u3061\u8fbc\u3081\u3070\u7d14\u5229\u76ca\u306b\u306f\u4e0b\u65b9\u5727\u529b\u304c\u304b\u304b\u308b\u304c\u3001\u4ed6\u306b\u4ee5\u4e0b\u306e\u5f0f\u3092\u6539\u5584\u3055\u305b\u308b\u8981\u56e0\u304c\u3042\u308c\u3070\u305d\u308c\u3067\u3082\u682a\u4fa1\u306f\u4e0a\u304c\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u682a\u4fa1 = 1\u682a\u5f53\u305f\u308a\u7d14\u5229\u76ca x \u682a\u4fa1\u53ce\u76ca\u7387<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u4e00\u756a\u826f\u3044\u4f8b\u306f\u30b3\u30ed\u30ca\u5f8c\u306e\u682a\u9ad8\u3067\u3042\u308b\u3002\u30ed\u30c3\u30af\u30c0\u30a6\u30f3\u306b\u3088\u308b\u7d14\u5229\u76ca\u306e\u66b4\u843d\u3092\u88dc\u3063\u3066\u3042\u307e\u308b\u307b\u3069\u306e\u91cf\u306e\u73fe\u91d1\u304c\u73fe\u91d1\u7d66\u4ed8\u306b\u3088\u3063\u3066\u3070\u3089\u6492\u304b\u308c\u305f\u3002\u307e\u305f\u3001Fed\u306f\u91d1\u878d\u7de9\u548c\u3092\u884c\u306a\u3044\u3001\u91d1\u5229\u304c\u4f4e\u4e0b\u3057\u305f\u3053\u3068\u306b\u3088\u3063\u3066\u682a\u4fa1\u53ce\u76ca\u7387\u306e\u74b0\u5883\u3082\u6539\u5584\u3057\u305f\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3064\u307e\u308a\u306f\u8ca1\u653f\u653f\u7b56\u3068\u91d1\u878d\u653f\u7b56\u3067\u3042\u308b\u3002\u682a\u5f0f\u5e02\u5834\u306f\u5e38\u306b\u5b9f\u4f53\u7d4c\u6e08\u3068\u8ca1\u653f\u653f\u7b56\u3068\u91d1\u878d\u653f\u7b56\u3067\u6c7a\u307e\u308b\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3060\u304b\u3089\u4eca\u306e1\u30f6\u6708\u307b\u3069\u306e\u682a\u4fa1\u4e0a\u6607\u304c\u672c\u7269\u304b\u3069\u3046\u304b\u3092\u8003\u3048\u308b\u306b\u306f\u3001\u5b9f\u4f53\u7d4c\u6e08\u304c\u99c4\u76ee\u3067\u3042\u308b\u4ee5\u4e0a\u3001\u8ca1\u653f\u653f\u7b56\u3068\u91d1\u878d\u653f\u7b56\u306b\u682a\u9ad8\u3092\u6b63\u5f53\u5316\u3059\u308b\u8981\u56e0\u304c\u3042\u308b\u304b\u3069\u3046\u304b\u3092\u8003\u3048\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u305d\u3057\u3066\u305d\u308c\u306f\u7121\u3044\u3002\u30a2\u30e1\u30ea\u30ab\u306e\u8ca1\u653f\u8d64\u5b57\u306f\u6b21\u306e\u3088\u3046\u306b\u306a\u3063\u3066\u3044\u308b\u304c\u3001\u7c73\u56fd\u8b70\u4f1a\u4e88\u7b97\u5c40\u306f2023\u5e74\u306e\u8ca1\u653f\u8d64\u5b57\u30921.5\u5146\u30c9\u30eb\u3068\u4e88\u60f3\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2022-us-budget-deficit-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"482\" height=\"466\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2022-us-budget-deficit-chart.png\" alt=\"\" class=\"wp-image-37749\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2022-us-budget-deficit-chart.png 482w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2022-us-budget-deficit-chart-300x290.png 300w\" sizes=\"auto, (max-width: 482px) 100vw, 482px\" \/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u3060\u304c\u305d\u308c\u306f\u53bb\u5e74\u306e\u8ca1\u653f\u8d64\u5b57\u3068\u540c\u3058\u6c34\u6e96\u3067\u3042\u308b\u3002\u305d\u308c\u3067\u3082\u9ad8\u3044\u6c34\u6e96\u306a\u306e\u3060\u304c\u3001\u305d\u308c\u306f\u682a\u4fa1\u306b\u306f\u95a2\u4fc2\u306a\u3044\u3002\u682a\u4fa1\u304c\u53bb\u5e74\u3088\u308a\u3082\u4e0a\u304c\u308b\u305f\u3081\u306b\u306f\u3001\u53bb\u5e74\u3088\u308a\u3082\u591a\u3044\u8ca1\u653f\u8d64\u5b57\u304c\u5fc5\u8981\u3067\u3042\u308b\u3002\u305d\u3057\u3066\u305d\u308c\u306f\u7121\u3044\u3002\u3060\u304b\u3089\u8ca1\u653f\u8d64\u5b57\u306f\u682a\u9ad8\u8981\u56e0\u306b\u306f\u306a\u3089\u306a\u3044\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4e00\u65b9\u3067\u91d1\u878d\u653f\u7b56\u3082\u983c\u308a\u306b\u306f\u306a\u3089\u306a\u305d\u3046\u3060\u3002Fed\u306e\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u306f\u30a4\u30f3\u30d5\u30ec\u304c\u4e0b\u304c\u308b\u307e\u3067\u9ad8\u91d1\u5229\u3092\u7dad\u6301\u3059\u308b\u3060\u308d\u3046\u3002\u4ee5\u4e0b\u306e\u8a18\u4e8b\u3067\u3053\u3046\u66f8\u3044\u305f\u3053\u3068\u3092\u601d\u3044\u51fa\u3057\u305f\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/37498\" data-type=\"post\" data-id=\"37498\">6\u6708FOMC\u4f1a\u5408\u7d50\u679c\u3001\u5229\u4e0a\u3052\u7d99\u7d9a\u3092\u8868\u660e<\/a><\/li>\n<\/ul>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">\u7d4c\u6e08\u5168\u4f53\u304c\u76ee\u306b\u898b\u3048\u3066\u60aa\u304f\u306a\u308b\u307e\u3067\u306f\u3001\u30d1\u30a6\u30a8\u30eb\u6c0f\u306e\u5f37\u6c17\u306e\u59ff\u52e2\u3092\u7591\u3046\u7406\u7531\u306f\u306a\u3044\u3002<\/p>\n<\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">\u30d1\u30a6\u30a8\u30eb\u6c0f\u306f\u4e00\u5ea6\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u3092\u58ca\u3057\u3066\u3057\u307e\u3046\u3060\u308d\u3046\u3002\u58ca\u3057\u305f\u5f8c\u306b\u614c\u3066\u3066\u7de9\u548c\u3092\u518d\u958b\u3059\u308b\u304b\u3069\u3046\u304b\u306f\u5225\u306e\u8a71\u3060\u304c\u3001\u30d1\u30a6\u30a8\u30eb\u6c0f\u306f\u5c11\u306a\u304f\u3068\u30821\u56de\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u3092\u58ca\u3059\u3002\u305d\u308c\u304c\u7b46\u8005\u306e\u4e88\u60f3\u3067\u3042\u308b\u3002\u91d1\u878d\u5f15\u304d\u7de0\u3081\u306f\u305d\u308c\u307e\u3067\u306f\u64a4\u56de\u3055\u308c\u306a\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/26936\" data-type=\"post\" data-id=\"26936\">\u30dd\u30b8\u30e3\u30fc\u30eb\u6c0f: \u653f\u7b56\u91d1\u5229\u306f5%\u4ee5\u4e0a\u306b\u4e0a\u304c\u3063\u3066\u666f\u6c17\u5f8c\u9000\u3067\u306f\u306a\u304f\u6050\u614c\u3092\u5f15\u304d\u8d77\u3053\u3059<\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u7d50\u8ad6<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3068\u3044\u3046\u3053\u3068\u3067\u3001\u7c73\u56fd\u682a\u306e\u30c0\u30a6\u30f3\u30c8\u30ec\u30f3\u30c9\u3092\u8986\u3059\u8981\u56e0\u306f\u5b58\u5728\u3057\u3066\u3044\u306a\u3044\u3002\u3053\u30531\u30f6\u6708\u306e\u30c8\u30ec\u30f3\u30c9\u304c\u6c38\u9060\u306b\u7d9a\u304f\u3068\u8003\u3048\u3066\u3044\u308b\u682a\u5f0f\u6295\u8cc7\u5bb6\u306e\u8af8\u5144\u306f\u3001\u4e0d\u6cc1\u6642\u306e\u682a\u9ad8\u306f\u8ca1\u653f\u653f\u7b56\u304b\u91d1\u878d\u653f\u7b56\u306e\u652f\u63f4\u304c\u7121\u3051\u308c\u3070\u6709\u308a\u5f97\u306a\u3044\u3068\u3044\u3046\u4e8b\u5b9f\u3092\u77e5\u308b\u3079\u304d\u3060\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1\u878d\u5e02\u5834\u306e\u72b6\u6cc1\u306b\u3064\u3044\u3066\u3082\u3001S&amp;P 500\u306e\u3088\u3046\u306a\u4e3b\u8981\u6307\u6570\u4ee5\u5916\u306e\u72b6\u6cc1\u3082\u898b\u3066\u3044\u308b\u4eba\u9593\u306f\u3001\u4e3b\u8981\u6307\u6570\u304c\u793a\u5506\u3059\u308b\u307b\u3069\u306b\u306f\u5fc5\u305a\u3057\u3082\u4eca\u306e\u5e02\u5834\u304c\u5f37\u304f\u306a\u3044\u3068\u3044\u3046\u3053\u3068\u3092\u7406\u89e3\u3059\u308b\u306f\u305a\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4eca\u3068\u540c\u3058\u3088\u3046\u306b\u91d1\u878d\u5f15\u304d\u7de0\u3081\u304c\u539f\u56e0\u3067\u8d77\u3053\u3063\u305f2018\u5e74\u306e\u4e16\u754c\u540c\u6642\u682a\u5b89\u306b\u306f\u682a\u4fa1\u306e\u30d4\u30fc\u30af\u306f2\u56de\u6765\u305f\u3002\u4ee5\u4e0b\u306f\u5f53\u6642\u306e\u30c1\u30e3\u30fc\u30c8\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2021\/06\/2018-s-and-p-500-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"612\" height=\"378\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2021\/06\/2018-s-and-p-500-chart.png\" alt=\"\" class=\"wp-image-13880\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2021\/06\/2018-s-and-p-500-chart.png 612w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2021\/06\/2018-s-and-p-500-chart-300x185.png 300w\" sizes=\"auto, (max-width: 612px) 100vw, 612px\" \/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">1\u56de\u4e0b\u843d\u3057\u305f\u5f8c\u306e\u53cd\u767a\u304c\u672c\u7269\u3067\u306a\u3044\u3068\u3044\u3046\u3053\u3068\u3092\u7b46\u8005\u306f2018\u5e74\u590f\u306b\u6307\u6458\u3057\u3001\u305d\u306e\u4e88\u60f3\u306f\u7684\u4e2d\u3057\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/7959\" data-type=\"post\" data-id=\"7959\">\u4e16\u754c\u540c\u6642\u682a\u5b89\u3092\u4e88\u60f3\u3067\u304d\u305f\u7406\u7531\u3068\u682a\u4fa1\u4e0b\u843d\u306e\u539f\u56e0 (2018\/10\/18)<\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1\u878d\u5e02\u5834\u5168\u4f53\u3092\u5f53\u6642\u3068\u540c\u3058\u3084\u308a\u65b9\u3067\u898b\u6e21\u305b\u3070\u3001\u540c\u3058\u8ad6\u7406\u304c\u4eca\u3082\u9069\u7528\u3067\u304d\u308b\u3068\u3044\u3046\u3053\u3068\u306b\u6c17\u4ed8\u304f\u306f\u305a\u3067\u3042\u308b\u3002\u5f53\u6642\u304b\u3089\u306e\u8aad\u8005\u3067\u3042\u308c\u3070\u3001\u7b46\u8005\u304c\u4f55\u3092\u8003\u3048\u3066\u3044\u308b\u304b\u5206\u304b\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u305d\u306e\u3053\u3068\u306b\u3064\u3044\u3066\u3082\u307e\u305f\u8a18\u4e8b\u3092\u66f8\u304f\u3064\u3082\u308a\u3067\u3042\u308b\u3002\u8457\u540d\u6295\u8cc7\u5bb6\u306e\u76f8\u5834\u89b3\u3082\u53c2\u8003\u306b\u3057\u306a\u304c\u3089\u697d\u3057\u307f\u306b\u3057\u3066\u3044\u3066\u3082\u3089\u3044\u305f\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/37635\" data-type=\"post\" data-id=\"37635\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u7c73\u56fd\u682a\u306f\u30d0\u30d6\u30eb\u306e\u69d8\u76f8\u3001S&amp;P 500\u306f\u6975\u3081\u3066\u5272\u9ad8<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/37404\" data-type=\"post\" data-id=\"37404\">\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9: 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\u5012\u7523\u304c\u6025\u5897\u3057\u682a\u4fa1\u306f\u4e0b\u843d\u3059\u308b<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>\u3053\u306e\u8fba\u308a\u3067\u4e00\u5ea6\u7c73\u56fd\u682a\u306e\u76f8\u5834\u898b\u901a\u3057\u306b\u3064\u3044\u3066\u7e8f\u3081\u3066\u304a\u304d\u305f\u3044\u3002\u7d50\u5c40\u91cd\u8981\u306a\u306e\u306f\u3001\u8ca1\u653f\u653f\u7b56\u3068\u91d1\u878d\u653f\u7b56\u304c\u6765\u5e74\u306b\u304b\u3051\u3066\u3069\u3046\u306a\u3063\u3066\u3086\u304f\u304b\u3067\u3042\u308b\u3002<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[59,111],"tags":[],"class_list":["post-37800","post","type-post","status-publish","format-standard","hentry","category-us-stock-market","category-stock-markets"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/37800","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/comments?post=37800"}],"version-history":[{"count":62,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/37800\/revisions"}],"predecessor-version":[{"id":37865,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/37800\/revisions\/37865"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=37800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=37800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=37800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}